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Rightmove tells sellers to get real...

A new campaign has been launched by Rightmove, telling sellers to get real about house prices.

It also encourages them to work with their agent to get their properties sold.

Rightmove director Miles Shipside said: "This campaign is aimed at educating the millions of current and prospective sellers who visit Rightmove each month about the realities of the current property market.

Full article here

Be sure to check out the public's response here too :lol:

Edited by rantnrave

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Rightmove tells sellers to get real...

Full article here

They must be hurting, seeing their income stream dwindle as agents start to go bust nd people cannot afford to move up, down or sideways so just stay put.

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Get real my Aunty Frances.

Typical example from the Slough of Despond:

Four bed detached on market August 2010 at £375k

Price reduced to £350k in October 2010, sold (subject to contract) same month

Forty weeks go by

July 2011 - no longer sold subject to contract, price back to original £375k

Presumably the estate agent (still the same one) had some input into this bold and imaginative decision

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Rightmove tells sellers to get real...

Full article here

Be sure to check out the public's response here too :lol:

Went to view a house last week (been on the market for 2 years) got to the house dead on time no one home ,phoned agent they said you cancelled the appointment this morning i said no we didnt ,they said oh ok would you like to make another one , we said no got home only to find the price of the house has gone up 25000! :blink:

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Went to view a house last week (been on the market for 2 years) got to the house dead on time no one home ,phoned agent they said you cancelled the appointment this morning i said no we didnt ,they said oh ok would you like to make another one , we said no got home only to find the price of the house has gone up 25000! :blink:

Feck!

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Went to view a house last week (been on the market for 2 years) got to the house dead on time no one home ,phoned agent they said you cancelled the appointment this morning i said no we didnt ,they said oh ok would you like to make another one , we said no got home only to find the price of the house has gone up 25000! :blink:

You missed the boat... :rolleyes:

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Rightmove tells sellers to get real...

Full article here

I find these articles you post from estateagenttoday very interesting, so thanks for posting.

Some very interesting comments below the article too..

Added by Gloria Anzaldua on 2011-07-22 09:08:41

Three cheers to Rightmove, how many times on this forum have we toyed with the idea of clubbing together in some way to educate sellers. Rightmove is doing everyone a service here.

Of course there will still be some rogue agents who will use overvaluation as a tool to get instruction, presumably with the aim of later talking them down, or maybe they are just a bit thick and don’t know what they’re doing? But nonetheless a welcome step in the right direction.

Added by PbroAgent on 2011-07-22 09:26:51

Rightmove should insist that all overpriced properties are removed from their website and may I also suggest that any property changing agents without a significant price reduction should also be banned from the site?

That'll learn 'em!

Added by rantnrave on 2011-07-22 09:21:39

Radio Five phone in yesterday about house prices. First caller is selling his terraced house in Grimsby. He was thrilled when the EA offered to put it on the market for even higher than he had thought it was worth. The caller continued to say he had plans for all that extra equity he didn't know he had. Eight months and barely a viewing later, the house is still on the market..

As an anecdotal, we looked round 2 family sized properties last weekend. Both were way overpriced considering the amount of work that needed doing, so that is what we told both agents, after our viewings. Both agents just told us dismissively that was what other prospective buyers had been telling them. They just seemed uninterested and demoted in selling, and did not even try and ask us what price we would be willing to offer. Neither agent has phoned us for feedback after our viewings. Both properties were owned by elderly people whose homes were obviously too big for them..

What on earth were this agents thinking of, valuing their homes so high in the first place? :rolleyes:

Both had been on sale since last year.

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Be sure to check out the public's response here too :lol:

Jul 21st, 2011

JOW I am an estate agent, the simple problem that we can see specifically in our area is competitors overvaluing.

The quickest way to sell your house is by pricing it realistically. How does a seller know if they are marketing their house at the CORRECT price?

Simple; research your local estate agents, pick 3 that appeal to you as sellers - get all 3 to give a value, and within reason take the middle valuation.

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Anyone else notice that at the tail end of the comments one John Sibley pops up?

Never knew he was called 'John', but he's still spouting his tired mantra of prices going up 16% (Daily Express guff) and urging punters not to reduce prices.

Interesting that in all that very long list of comments he's now the only one pushing this line.

You're on your own, Johnny!!

Edited by juvenal

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Estate Agents commision should be predominantly based on the accuracy of their initial valuation against the actual sold price.

There should also be an index/league table rating the agents performance in this area.

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That is a strong message from Rightmove, pretty much the face of "online house hunting".

Bring it on like Donkey Kong.

The only flaw in their plan is that vendors will think it applies to everyone else, not them

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Karen Moran

We only had 3 viewings for our house and all the people who seen it wanted it. We didn't have any viewings at first and realized the price needed to come down. We reduced by £3000 and the interest started .1st couple still had a house to sell, 2nd offered £20,000 below asking price, that's what they thought it was worth. I told the agent to tell them, if they could find me a house like ours for that price, I would buy it. 3rd couple offered £5000 below asking price but I knew they loved the house, had sold theirs and wanted a quick sale so I told them to up their price, which they did by £3000, I knew this was about right as properties prices had fallen again. Unfortunately due to my husband taking very ill and us in no position to move, we had to withdraw the sale.

Don't know if this will help anyone, but all the people came for a 2nd viewing. When they 1st came I pointed out minor things that were obvious. Like the wall plug left in the tile of the bathroom. It is fully tiled and when we fitted a new shower, the box was a different shape. We couldn't find any tiles the same to replace it etc. Saves people guessing. When they all came back for the 2nd viewing I asked them that as they had already been if they would like to look round the house themselves. All of them did. That way I felt they could discuss things at ease & have a proper look. After they had finished I asked them if they had any questions and answered them. Good luck with your selling.

:rolleyes:

Edited by The Masked Tulip

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Went to view a house last week (been on the market for 2 years) got to the house dead on time no one home ,phoned agent they said you cancelled the appointment this morning i said no we didnt ,they said oh ok would you like to make another one , we said no got home only to find the price of the house has gone up 25000! :blink:

Means that the seller, after 2 years of failure is now another 25K in debt so has to increase the price. Next year it'll still be unsold and will go up by another 25k. Perhaps there was "no-one home" because they thought you were the bailiffs?

Edited by ingermany

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Means that the seller, after 2 years of failure is now another 25K in debt so has to increase the price. Next year it'll still be unsold and will go up by another 25k. Perhaps there was "no-one home" because they thought you were the bailiffs?

when it goes up by 100K buy it :lol:

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Estate Agents commision should be predominantly based on the accuracy of their initial valuation against the actual sold price.

There should also be an index/league table rating the agents performance in this area.

One of the HPI drivers has always been percentage based commission encouraging EA's to talk up prices. Imagine if they were only allowed to charge a fixed price (as proposed by Tesco when they threatened to join the EA market - whatever happened to that?) - then they would be clamouring for cheaper prices and more sales instead.

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One of the HPI drivers has always been percentage based commission encouraging EA's to talk up prices. Imagine if they were only allowed to charge a fixed price (as proposed by Tesco when they threatened to join the EA market - whatever happened to that?) - then they would be clamouring for cheaper prices and more sales instead.

Yeah but 1% bof no sale is zero, so you would think tehy might kind of see the light soon!!

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Jul 18th, 2011

John Sibley

I think sellers should stick to their prices not drop a penny.

This is a bas time to sell but the situation is going to improve fast. Now the banks are starting to compete with mortgage deals. Once finance is available you will have a lot more buyers than houses.

Don't sell cheap now. Wait a little while and get the right price. Expect prices to rise 16% over the next few years. That money would look much nicer in your bank than somebody elses.

Own up, who put that up there... not even Sibley's this dumb... it must be a wind-up or someone's trying to make Sibley sound silly

:lol:

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Means that the seller, after 2 years of failure is now another 25K in debt so has to increase the price. Next year it'll still be unsold and will go up by another 25k. Perhaps there was "no-one home" because they thought you were the bailiffs?

Haha maybe its inflation :P

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Rightmove running out of prospectors to sell shovels to?

I've got an idea for Miles Shitside...

Rightmove could sell a 'Premium Plus Listing' service which has a red circle sticker graphic twice the size of their current Premium Listing desperate scam product.

I don't know about anyone else, but unless the house is listed premiumly It's not good enough for me & it's immediately dismissed as somewhere only poor people would consider buying.

Selling a house in todays market relies heavily on the size of the red circle sticker graphic placed over the primary picture of your listing on rightmove and is sure to make buyers everywhere ignore the last 10 years of credit fueled HPI ******tardery and literally snap it up.

If you're reading this Miles, please PM me so I can provide you my address for the iPad2 competition.

Edited by Reck B

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Very interesting to see this seller re-education program. It's to Rightmove's credit that they're doing it (and of course helps their bottom line).

Here's my favourite quote. This seller calls the people who offered on her house "chancers", but seems to fail to realise that even her EA thinks she should drop her price to the lowest of the offers she rejected. She could have sold at 320k and is now looking at 275k. She blames the agent apparently (reason unspecified).

We put our house on the market for £350,000 to pay off our mortgague on the house we had lived in for over 20 years. This was more than the agent suggested, but we needed that much as we had withdrawn equity over the years.

We had a number of offers around £50k less than we were asking which we rejected as chancers. We also recieved an offer for 30k less which we also very quickly rejected. That was six months ago. And now my husband who had to move for work is renting and the cost of servicing a mortgaue and rent is crippling. I am starting to think that we should have accepted the £30k less offer. But other agents I have spoken to are now suggesting we could try for £300k but realistically get £275k. Meanwhile our first agent seems to have lost all interest in our property.

I blame the agent and the chancer offers, but I know we may need to face up to having asked a little too much to begin with.

I wonder if she realises that she is exactly the type of seller that Rightmove are now targeting with this campaign.

Edited by catmandu

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We put our house on the market for £350,000 to pay off our mortgague on the house we had lived in for over 20 years. This was more than the agent suggested, but we needed that much as we had withdrawn equity over the years.

And now she wants someone else to pay for it!

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Rightmove tells sellers to get real...

Full article here

Be sure to check out the public's response here too :lol:

Eva Jones We put our house on the market for £350,000 to pay off our mortgague on the house we had lived in for over 20 years. This was more than the agent suggested, but we needed that much as we had withdrawn equity over the years.

We had a number of offers around £50k less than we were asking which we rejected as chancers. We also recieved an offer for 30k less which we also very quickly rejected. That was six months ago. And now my husband who had to move for work is renting and the cost of servicing a mortgaue and rent is crippling. I am starting to think that we should have accepted the £30k less offer. But other agents I have spoken to are now suggesting we could try for £300k but realistically get £275k. Meanwhile our first agent seems to have lost all interest in our property.

I blame the agent and the chancer offers, but I know we may need to face up to having asked a little too much to begin with.

cognitive dissonance is almost a physical force sometimes, intangible and comfortable, like drowning in strawberry jelly...

Edited by Si1

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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